25 MAY 2020
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Norwegian, the third largest airline at Gatwick, and a holder of a UK Air Operators Certificate, has confirmed the completion of a restructuring.
A State loan guarantee of £250m has been approved and the company has now converted one billion sterling of debt to equity and says it has laid a solid foundation for the future, although it admits the next months will remain challenging. No date yet for a return to anything like a full service nor of the future structure of its current fleet which stands at just over 100 Boeing 737 and 37 Boeing Dreamliner 787-8.
The airline is currently flying a limited Scandinavian schedule.
Prior to the pandemic Norwegian was carrying almost 6m UK passengers each year from Gatwick, Edinburgh and Manchester airports to 30 destinations worldwide with 1,200 UK-based pilots and cabin crew.
In 2014, Norwegian introduced the UK’s first low-cost long-haul flights to the US. The airline now flies to 11 US destinations, Buenos Aires and Rio de Janeiro from Gatwick.
All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum
L. Stephen Davis, Toronto, Canada
A recent media report stated the the Chinese were to buy a 13% stake in Norwegian. Can that be confirmed?